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WHEREAS, <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, ALAMEDA <br /> <br /> RESOLUTION NO. 04-023 <br /> <br />A RESOLUTION APPROVING THE ISSUANCE AND SALE OF <br />BONDS BY THE PLEASANTON JOINT POWERS FINANCING <br />AUTHORITY, APPROVING A LOCAL OBLIGATION <br />ADMINISTRATION AGREEMENT, A CONTINUING <br />DISCLOSURE AGREEMENT AND AUTHORIZING OFFICIAL <br />ACTIONS <br /> <br />the Pleasanton Joint Powers Financing Authority (the "Authority") is a joint powers <br />authority duly organized and existing under and pursuant to that certain Joint Exercise of <br />Powers Agreement dated as of June 29, 1993, between the City of Pleasanton (the "City") <br />and the Pleasanton Housing Authority (the "Housing Authority"), and under the <br />provisions of Articles 10 and 11 of Chapter 2.8, Division 2, Tire 5 (commencing with <br />Section 53570) of the Government Code of the State of California, as mended (the <br />"Refunding Law") to borrow money for the purpose of refinancing the acquisition of its <br />bonds; and <br /> <br />the Authority has previously entered into a Trust Agreement, dated as of July 1, 1993 (the <br />"1993A Trust Agreement") with the City and U.S. Bank National Association (as <br />successor trustee) (the "1993 Trustee"), pursuant to which the Authority has issued its <br />Reassessment Revenue Bonds, 1993 Series A (the "1993A Bonds"); and <br /> <br />the Authority has previously entered into a Trust Agreement, dated as of July 1, 1993 (the <br />"1993B Trust Agreement" and, with the 1993A Trust Agreement, the "1993 Trust <br />Agreements") with the City and the 1993 Trustee, pursuant to which the Authority has <br />issued its Subordinate Reassessment Revenue Bonds, 1993 Series B (the "1993B Bonds" <br />and, with the Series 1993A Bonds, the "1993 Bonds"); and <br /> <br />in order to secure the 1993 Bonds, the City issued its City of Pleasanton Limited <br />Obligation Refunding Bonds, issued upon the security of the reassessments levied in <br />Consolidated Reassessment Districts 1993-1, 1993-2, 1993-3 and 1993-4, respectively, of <br />the City (the "Local Obligations") and sold such Local Obligations to the Authority, and <br />the Authority purchased the Local Obligations with proceeds of the 1993 Bonds; and <br /> <br />the Authority has determined that it is in the interests of the Authority and the City at this <br />time to refund the Outstanding 1993 Bonds through the issuance of its Reassessment <br />Revenue Refunding Bonds, Series 2004A (the "Bonds"); and <br /> <br /> <br />